DEFINITION OF LEADING PRODUCTS FOR ENHANCED COMPETITIVENESS

27/07/2018
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   HCM City is rated as a dynamic city but its industries are growing very slowly, with no leading products yet representative of the city.

HCM City is rated as a dynamic city but its industries are growing very slowly.

On 25 July, the HCM City Department of Industry and Trade held a seminar entitled “Establishment of a group of leading industrial products representative of the city” in order to collect expert opinions about establishing selection criteria for leading industrial products.

HCM City is rated as a dynamic city, but its industries are growing very slowly, with no leading products yet representative of the city. Even its four key industries make up as little as 10% of the GRDP. This percentage includes 2.97% for food processing, 2.54% for mechanical engineering, 2.33% for pharmaceutical chemistry - rubber, and 2.17% for electronics.

In the face of this real situation, the HCM City People’s Committee requested relevant departments and sectors to reckon up the number of industrial firms capitalized at VND 100 billion. Notably, solutions must be sought to overcome the situation in which the four leading industries grew normally but not as drastically as expected.

According to Mr. Nguyen Phuong Dong, Deputy Director of the HCM City Department of Industry and Trade, the city’s economy has constantly grown in the past years.

However, it can be admitted that the city’s development potential showed inadequate points, which needs to be resolved. Among them, possible mention includes low competitiveness, downgraded infrastructure, still limited premises for industrial production compared with those for agricultural production, and high land rental charges compared with those of other localities.

Source: Vietnam News Agency

Translated by Tran Canh Trong

Mỹ Phương/TTXVN

Written : Theo bnews.vn